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A comment on Tesla has suspended vehicle purchases using Bitcoin. Parent comment

Re:Tesla has suspended vehicle purchases using Bitcoin by myth_buster on Wednesday May 12, 2021 @07:00PM (#27136221) 

  Now it seems to be going down. When bitcoin continues to steadily go down, it is a significant concern because Tesla will have to take losses on the cars it sells and will have reduced gross margins, which will result in their stock price tanking.
Doesn't compute. If Euro/USD goes down by few basis points would one stop selling cars priced in euro?

They can always price cars based on BTC's price and liquidate it to fiat or cryptocurrency of their choice.

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Re:Tesla has suspended vehicle purchases using Bitcoin by andreilys on Wednesday May 12, 2021 @07:08PM (#27136306)
If Euro/USD goes down by few basis points would one stop selling cars priced in euro?

Btc swings can be +/-20% a day, so not exactly a great comparison.

Also currency hedging is a thing that many companies employ to normalize profits. I’m sure there’s a BTC equivalent for this but the volatility would make it unreliable most likely

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Re:Tesla has suspended vehicle purchases using Bitcoin by ineedasername on Wednesday May 12, 2021 @07:30PM (#27136497)
Stable currencies may move a few basis points from day to day. BTC can move hundreds or thousands of basis points.
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Re:Tesla has suspended vehicle purchases using Bitcoin by myth_buster on Thursday May 13, 2021 @10:35AM (#27142532)
What I'm saying is that they can sell cars in BTC without any volatility exposure. The price going down is not the reason for them deciding against selling cars in BTC but the energy subsidies.
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Re:Tesla has suspended vehicle purchases using Bitcoin by NicoJuicy on Wednesday May 12, 2021 @07:29PM (#27136483)
Which currency lost 4/5th of it's value ( 20 k to 4,5 k) till covid started over a couple of years?

That's not "a few basis points"

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Re:Tesla has suspended vehicle purchases using Bitcoin by tapland on Wednesday May 12, 2021 @07:55PM (#27136683)
An absolute massive amount? Just checking my local currency (SEK) against the USD that was in 2014.

Also losing 15% against the DKK which regular people use to shop just a 25 min ride from here.

Currency fluctuations are not uncommon and can be very significant.

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Re:Tesla has suspended vehicle purchases using Bitcoin by NicoJuicy on Wednesday May 12, 2021 @10:04PM (#27137637)
You're talking about a span of over multiple years. I just checked BTC and it even dropped 11,51% in 24h.
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Re:Tesla has suspended vehicle purchases using Bitcoin by andyana on Thursday May 13, 2021 @10:24AM (#27142399)
What is the maximum daily fluctuation you're comfortable with, for any currency?
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Re:Tesla has suspended vehicle purchases using Bitcoin by NicoJuicy on Thursday May 13, 2021 @05:16PM (#27147583)
In stable markets or mismanaged ones?

Currency is a representation of the market it represents. Not from memes of billionaires.

Is that so hard to understand?

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Re:Tesla has suspended vehicle purchases using Bitcoin by brianwawok on Wednesday May 12, 2021 @07:08PM (#27136310)
Except they also had 2? Billion in Bitcoin holdings. So the float up and down had an impact?
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Re:Tesla has suspended vehicle purchases using Bitcoin by myth_buster on Thursday May 13, 2021 @10:33AM (#27142503)
They didn't sell their $1.5B BTC.
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